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Below is an Interesting article I found, which says that.....Do not
: r9 U8 t4 g4 X4 v: bexpect much from Crude Oil producers and future is not with the 2 c7 a% g9 W5 s
companies producing Jet fuels but Biofuels. Also no wonder if some of
! p1 m2 s# R G) h3 o2 D- m, lthese oil producer will go bankrupt or out of the business even if
5 c/ a( ^2 ^! i K+ D y4 Q: Ccrude prices improves. This implies also to good names such as Shell, & z5 {% {7 g3 K
EXXON, BG, BP, Cheveron ....xyz.. oils
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+ T8 Z/ E( ?$ P. n& z* X# y1 ]1 B1 VRecently OPEC reduced crude oil production twice over just a few $ N. W# F9 [. ^& y7 g1 }& \; ^
months. There are three wars going on in Gaza, Iraq and Afghandistan.
. P- l9 |' c9 N+ i2 b, Y& d8 {' A) s: AA year ago these things would have spiked the price of crude oil by at
+ q9 S; e0 p) F8 w: G j; T& Vleast $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face 3 \, x- ^! F2 e& J6 o& p- z4 Y
of so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and ! t; }7 i' p3 S" U8 W/ ?
in the ocean near Brazil. Each of these oil fields has more oil than
2 s/ P* q+ R" }) \( t% qArabia.
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2. New natural gas has been found in Pennsylvania and West Virginia.
& }2 i1 ?7 c8 V( T9 C H9 A2 ?This is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is
$ y* I, `. z* @) Jbeing used to double their output.
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4. Production of bio-fuels is beginning to reach critical mass. Bio 6 h4 N9 r' e1 c' ~" B% E
fuel is being produced from many plants and algae. The production
) V* j$ y$ `3 w9 Vpotential per acre in some cases is astounding. Many countries are + \* v7 M! }- S6 {7 P# B G% o
racing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants / ]. W5 H' C6 Q# s6 `) A
are now selling their used oil to bio-diesel producers. Every pork, 7 A$ p0 P7 H% ?; d, R
cattle, turkey and chicken processing plant will soon sell their fat P3 ] A1 y- D3 e: G6 j
to bio-diesel producers. One pork processing plant in Oklahoma is
7 }5 F6 z' K+ Y0 c" g' e; uproducing 30,000 gallons of bio-diesel per day from pork fat.
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- P* C% n* q' I, C! Q6. There are 99 nuclear reactors in various stages of planning and 8 E+ o, `3 B9 m% y
construction around the world at this time. Several hundred more are $ c' F0 M8 q3 E& [
expected to be built in the future. Much of the energy they produce
: c. I y. H$ m2 A0 Kwill replace oil. 5 v' }3 ]7 r* W" |8 H
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7. Every company in any form of transportaion business is replacing
8 F: D+ {. }2 j volder equipment such as trucks, airplanes, train engines, ships, etc. ) v4 k- { Y& U
with new more fuel efficient equipment. Airlines and railway companies " v9 _2 f& j! W% o8 ^
are experiencing 20% to 25% better fuel econony with the new
6 V9 C) z, ~% f+ N' r2 X# m4 w5 h( mequipment.
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* Q4 X; b. w2 Y' w+ _ S. S1 u NAirlines are flying airplanes with bio-fuel. They are finding the bio-
) P% X. `9 y7 a( z9 Bfuel is cleaner and performs better than jet fuel. . \) c# F6 j5 x0 e- ?
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8. Cities and counties throughout the US are selling the rights to + i$ U2 G1 H: j+ M% c$ t
capture methane gas from landfills. This is a huge source of gas ( r# ] i- s8 o% m
available at very little cost or risk. The gas is displacing crude
5 M& w2 u. E* s, i+ Loil.
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% K% ~$ ^6 [. s. n [ P9. Coal is being transformed into a clean burning liquid fuel. The CO2 9 ]' z! x$ a6 k+ z# p# H
produced as a byproduct is sold to oil companies for injection into
5 a2 w. ^5 ~# U7 ~. b0 eoil wells.
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10. Solar, wind and ocean energy is displacing oil as an energy
2 P+ F- @8 V% k# O l9 w& c- W/ Msource. Three new wind turbines are being erected every day in the US. % k# s9 l* C5 ^
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Each of the above by itself will not make a large difference in the
# M9 r5 h0 R6 f( n6 a! eprice of crude oil but the sum of all of them together is world
% Q% U1 ~/ z; j0 Z& ?changing. The important thing is that OPEC no longer has the ability
, V& z; V$ b8 j' i5 Ato control oil prices.
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6 V' b- t$ `- w/ ]With the above scenario, I still believe that there are under
: ^; Q1 l1 L ]2 c- l; f( @performed OIL companies and probably they are yet to get the justified
' o9 K! F( {+ F- B2 ]* H5 H7 Gvalue ..... : c4 v1 z( n9 q+ h3 @
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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# X4 B) k( R! Q5 C, vThe above articles are from WSJ .............PUBLISHED ON 9TH JAN 5 Z/ I. S! M) J2 n+ J4 b
2009 ... FYI-Only |
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